Common use of Determination of Federal Funds Rate Clause in Contracts

Determination of Federal Funds Rate. If the Interest Rate Basis is Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis for this Global Note is the Federal Funds Rate, as indicated on the face hereof, the interest rate payable with respect to this Global Note shall equal the Federal Funds Rate determined as specified on the face hereofherein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of on the Business Day prior to the applicable Interest Reset Determination Date (a “Federal Funds Rate Interest Determination Date”) ), and shall be the rate with respect to such date for U.S. dollar Federal Funds federal funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters 3000 Xtra Service (or any successor servicethereto) (“Reuters”) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M.p.m., New York City time, on the related Calculation Date pertaining to such Federal Funds Interest Determination Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related such Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds federal funds arranged by three leading brokers of U.S. United States dollar Federal Funds federal funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with QuébecProvince, prior to 9:00 A.M.a.m., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent Province are not quoting as mentioned in this sentenceset forth above, the Federal Funds Rate determined as of on such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Base Rate Basis specified on the face hereof or in the pricing supplement attached hereto or delivered herewith is the Federal Funds Rate, this Note will bear interest for each Interest Reset Period at the interest rate payable calculated with respect reference to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus and Spread or minus the Spread, if any, or multiplied by the Spread Multiplier, if any, specified on the face hereof or in the pricing supplement attached hereto or delivered herewith. The "Federal Funds Rate Rate" for each interest reset date Interest Reset Period shall be determined as of the effective rate on the second Business Day prior to the Interest Reset Date for such Interest Reset Period (a “"Federal Funds Rate Interest Determination Date”") and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite under the heading “"Federal funds Funds (effectiveEffective)” " and that appears displayed on Reuters Moneyline Telerate (or any successor service) on Reuters Page FEDFUNDS1 120 (or any other page as may replace such page the specified Page on such that service) under ). In the heading “EFFECT” or, if event that such rate does not appear on Reuters Moneyline Telerate on Page FEDFUNDS1 120 or is not so published by prior to 3:00 P.M.p.m., New York City time, on the related Calculation Date, the rate with respect Date (as defined above) pertaining to such Federal Funds Rate Determination Date, the "Federal Funds Rate" for such Interest Reset Period shall be the rate on such Federal Funds Rate Determination Date for U.S. dollar federal funds as published in the H.15 Daily Update, Update under the heading "Federal Funds/Effective Rate," or such other recognized electronic source used for the purpose of displaying such the applicable rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related such Calculation Date, such rate is not yet published, then the "Federal Funds Rate with respect to Rate" for such Federal Funds Rate Interest Determination Date Reset Period shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds federal funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) City, selected by the Calculation Agent, after consultation with Québec, Agent prior to 9:00 A.M.a.m., New York City time, on the Business Day following such that Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentenceabove, the "Federal Funds Rate" for the Interest Reset Period will be the "Federal Funds Rate" in effect for the particular Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Date. If there was no Federal Funds Rate in effect on such for the Interest Reset Period, the "Federal Funds Rate Interest Rate" will be the initial interest rate. Determination Date.of LIBOR

Determination of Federal Funds Rate. If the Interest Base Rate Basis specified on the face hereof or in the pricing supplement attached hereto or delivered herewith is the Federal Funds Rate, this Note will bear interest for each Interest Reset Period at the interest rate payable calculated with respect reference to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus and Spread or minus the Spread, if any, or multiplied by the Spread Multiplier, if any, specified on the face hereof or in the pricing supplement attached hereto or delivered herewith. The "Federal Funds Rate Rate" for each interest reset date Interest Reset Period shall be determined as of the Business Day prior to effective rate on the business day immediately preceeding the Interest Reset Date for such Interest Reset Period (a “"Federal Funds Rate Interest Determination Date”") and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite under the heading “"Federal funds Funds (effectiveEffective)” " and that appears displayed on Reuters Moneyline Telerate (or any successor service) on Reuters Page FEDFUNDS1 (120 or any other page as may replace such the specified page on such that service) under . The following procedures will be followed if the heading “EFFECT” or, if Federal Funds Rate cannot be determined as described above. In the event that such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by prior to 3:00 P.M., New York City time, on the related Calculation Date pertaining to the Federal Funds Rate Determination Date, the "Federal Funds Rate" for such Interest Reset Period shall be the rate with respect to such on the Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in the H.15 Daily Update, Update under the heading "Federal Funds (Effective)," or such other recognized electronic source used for the purpose of displaying such the applicable rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related such Calculation Date, such rate is not yet published, then the "Federal Funds Rate with respect to Rate" for such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and Reset Period shall be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds federal funds arranged by three leading brokers of U.S. dollar Federal Funds federal funds transactions in The City of New York (which may include the Agents or their affiliates) City, selected by the Calculation Agent, after consultation with Québec, Agent prior to 9:00 A.M., New York City time, time on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentenceabove, the Federal Funds Rate determined as of for such Federal Funds Rate Interest Determination Date shall Reset Period will be the Federal Funds Rate in effect on for the particular Federal Funds Rate Determination Date (or, if there is no such Federal Funds Rate in effect for the Interest Determination DateReset Period, the Federal Funds Rate will be the Initial Interest Rate).

Determination of Federal Funds Rate. If the Interest Rate Basis is Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite the heading “‘‘Federal funds (effective)” ’’ and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “‘‘EFFECT” ’’ or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “‘‘Federal funds (effective)”’’. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Base Rate Basis indicated on the face hereof is the Federal Funds RateRate (Effective), the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as rate on each Interest Determination Date specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate hereof for each interest reset date shall be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” "Federal Funds (Effective)," as such rate is displayed on Moneyline Telerate Page 120 or, if such rate is not so published in H.15(519) or does not appear on Reuters Moneyline Telerate Page FEDFUNDS1 or is not so published 120 by 3:00 5:00 P.M., New York City time, on the related Calculation Date pertaining to such Interest Determination Date, the rate with respect to such Federal Funds Rate for such Interest Determination Date for U.S. dollar federal funds as published will then be the rate on such Interest Determination Date set forth in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, for that day opposite the caption “heading "Federal funds Funds (effectiveEffective Rate)”. If ," or if such rate does not appear on Reuters Moneyline Telerate Page FEDFUNDS1 120 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 5:00 P.M., New York City time, on the Calculation Date pertaining to such Interest Determination Date, the Federal Funds Rate for such Interest Determination Date will be the rate for the first preceding day for which such rate is set forth in H.15(519) opposite the heading "Federal Funds (Effective)," as such rate is displayed on Moneyline Telerate Page 120. If the Base Rate indicated on the face hereof is the Federal Funds Rate -- Open, the interest rate shall equal the rate on each Interest Determination Date specified on the face hereof for the Federal Funds under the heading "Federal Funds" and opposite the caption "Open," as such rate is displayed on Moneyline Telerate Page 5, or if such rate does not appear on Moneyline Telerate Page 5 by 5:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to for such Federal Funds Rate Interest Determination Date shall will be the rate for the day displayed on FEDSPREB Index on Bloomberg, which is the Fed Funds Opening Rate as reported by Prebon Yamane on Bloomberg. If that rate does not appear on Moneyline Telerate Page 5 or FEDSPREB Index on Bloomberg, the rate for the Interest Determination Date will be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Dollar Federal Funds arranged by three leading brokers funds, as of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to 9:00 A.M., New York City time, on that day as supplied to the Business Day following such Federal Funds Rate Interest Determination Date; providedCalculation Agent. In each of the above cases the rate shall be adjusted by the addition or subtraction of the Spread, howeverif any, that specified on the face hereof, or by multiplication by the Spread Multiplier, if any, specified on the face hereof. If the brokers so selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentenceset forth above, the Federal Funds Rate determined as of with respect to such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such Federal Funds Rate that Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Base Rate Basis specified on the face hereof or in the pricing supplement attached hereto or delivered herewith is the Federal Funds Rate, this Note will bear interest for each Interest Reset Period at the interest rate payable calculated with respect reference to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus and Spread or minus the Spread, if any, or multiplied by the Spread Multiplier, if any, specified on the face hereof or in the pricing supplement attached hereto or delivered herewith. The "Federal Funds Rate Rate" for each interest reset date Interest Reset Period shall be determined as of the effective rate on the second Business Day prior to the Interest Reset Date for such Interest Reset Period (a “"Federal Funds Rate Interest Determination Date”") and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite under the heading “"Federal funds Funds (effectiveEffective)” " and that appears displayed on Reuters Moneyline Telerate (or any successor service) on Reuters Page FEDFUNDS1 120 (or any other page as may replace such page the specified Page on such that service) under ). In the heading “EFFECT” or, if event that such rate does not appear on Reuters Moneyline Telerate on Page FEDFUNDS1 120 or is not so published by prior to 3:00 P.M.p.m., New York City time, on the related Calculation Date, the rate with respect Date (as defined above) pertaining to such Federal Funds Rate Determination Date, the "Federal Funds Rate" for such Interest Reset Period shall be the rate on such Federal Funds Rate Determination Date for U.S. dollar federal funds as published in the H.15 Daily Update, Update under the heading "Federal Funds/Effective Rate," or such other recognized electronic source used for the purpose of displaying such the applicable rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related such Calculation Date, such rate is not yet published, then the "Federal Funds Rate with respect to Rate" for such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and Reset Period shall be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds federal funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) City, selected by the Calculation Agent, after consultation with Québec, Agent prior to 9:00 A.M.a.m., New York City time, on the Business Day following such that Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentenceabove, the "Federal Funds Rate" for the Interest Reset Period will be the "Federal Funds Rate" in effect for the particular Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Date. If there was no Federal Funds Rate in effect on such for the Interest Reset Period, the "Federal Funds Rate Interest Rate" will be the initial interest rate. Determination Date.of LIBOR

Determination of Federal Funds Rate. If the an Interest Rate Basis for this Note is the Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spreadhereof (or, if anythis Note is in global form, or multiplied by in the Spread Multiplier, if any. The Pricing Supplement) the Federal Funds Rate for each interest reset date shall be determined by the Calculation Agent as of the Business Day prior to the applicable Interest Reset Determination Date (a “Federal Funds Rate Interest Determination Date”) and in accordance with the following provisions: (i) if “Federal Funds (Effective) Rate” is the Federal Funds Rate specified on the face hereof (or, if this Note is in global form, in the Pricing Supplement), the Federal Funds Rate as of the applicable Federal Funds Rate Interest Determination Date shall be the rate with respect to such date for U.S. dollar Federal Funds United States Dollar federal funds as published in H.15(519) opposite the heading caption “Federal funds (effective),” and that appears as such rate is displayed on Reuters (or any successor service) on Reuters Page page FEDFUNDS1 (or any other page as may replace such page on such service) (“Reuters Page FEDFUNDS1”) under the heading “EFFECT” ”, or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M.p.m., New York City time, on the related Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite under the caption “Federal funds (effective)”. .” If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall will be the arithmetic mean of the rates for the last transaction in overnight U.S. United States dollar Federal Funds federal funds arranged by three leading brokers of U.S. United States dollar Federal Funds federal funds transactions in The City of New York (which may include the Distribution Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, Agent prior to 9:00 A.M.a.m., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis is Federal Funds Rate, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the Interest Reset Date (a “Federal Funds Rate Interest Determination Date”) and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 FEDFUNDS 1 (or any other page as may replace such page on such service) under the heading “EFFECT” or, if such rate does not appear on Reuters Page FEDFUNDS1 FEDFUNDS 1 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 FEDFUNDS 1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the an Interest Rate Basis for this Note is the Federal Funds Rate, as indicated on the interest rate payable with respect to this Note shall equal face hereof or in the Pricing Supplement, the Federal Funds Rate determined as specified on the face hereof, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of the Business Day prior to the applicable Interest Reset Determination Date (a “Federal Funds Rate Interest Determination Date”) and shall be ), as the rate with respect to on such date for U.S. United States dollar Federal Funds federal funds as published in H.15(519) opposite under the heading “Federal funds Funds (effectiveEffective)” and that appears as such rate is displayed on Reuters Moneyline Telerate, Inc. (or any successor service) on Reuters Page FEDFUNDS1 page 120 (or any other page as may replace such page on such service) under the heading (“EFFECT” orMoneyline Telerate Page 120”), or if such rate does not appear on Reuters Moneyline Telerate Page FEDFUNDS1 or is 120 or, if not so published by 3:00 P.M.p.m., New York City time, on the related Calculation Date, the rate with respect to on such Federal Funds Rate Interest Determination Date, as published in H.15 Daily Update or such other recognized electronic source used for the purpose of displaying such rate under the heading “Federal Funds (Effective)”. If by 3:00 p.m., New York City time, on the related Calculation Date such rate is not published on Moneyline Telerate Page 120, then the Federal Funds Rate on such Federal Funds Rate Interest Determination Date for U.S. United States dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite under the caption heading “Federal funds Funds (effectiveEffective)”. If such rate does not appear on Reuters Moneyline Telerate Page FEDFUNDS1 120 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M.p.m., New York City time, on the related Calculation Datecalculation date, then the Federal Funds Rate with respect to such on the Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds federal funds arranged by three leading brokers of U.S. United States dollar Federal Funds federal funds transactions in The City of New York (which may include the Agents Dealers or their affiliates) selected by the Calculation Agent, after consultation with Québec, Agent prior to 9:00 A.M.a.m., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if any of the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date.

Determination of Federal Funds Rate. If the Interest Rate Basis is (a) The Federal Funds RateRate in effect on each day of each Interest Period shall be (a) if such day is a Federal Funds Reset Date, the interest rate payable with respect to this Note shall equal the Federal Funds Rate determined as specified on of the face hereof, plus or minus the Spread, if anyrelated Federal Funds Determination Date, or multiplied by (b) if such day is not a Federal Funds Reset Date, the Spread Multiplier, if any. The Federal Funds Rate for each interest reset date shall be determined as of in effect on the Business Day prior to the Interest Reset Date (a “immediately preceding Federal Funds Rate Reset Date. The Trustee shall determine the Federal Funds rate on March 6, 1998 and each Federal Funds Determination Date thereafter until such time as the Class A Investor Interest has been paid in full. (b) With respect to each Federal Funds Determination Date”) and , the Trustee shall be determine the rate with respect to (the "Federal Funds Rate") on such date day for U.S. dollar Federal Funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” "Federal Funds (Effective)" or, if such rate does not appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M.p.m., New York City time on such date the rate on such Federal Funds Determination Date as published in Composite Quotations under the heading "Federal Funds/Effective Rate." In the event that such rate is not published in either H.15(519) or Composite Quotations by 3:00 p.m., New York City time, on the related Calculation Datesuch date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds Rate with respect to for such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent Trustee and shall be the arithmetic mean of the rates rate as of 9:00 a.m., New York City time on such Federal Funds Determination Date, for the last transaction in overnight U.S. United States dollar Federal Funds federal funds arranged by three leading brokers of U.S. dollar Federal Funds federal funds transactions in The City of the New York (which may include the Agents or their affiliates) City selected by the Calculation Agent, after consultation with Québec, prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination DateServicer; provided, however, -------- ------- that if the brokers so selected by the Calculation Agent Servicer are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of with respect to such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on such with respect to the preceding Federal Funds Determination Date. (c) The Class A Certificate Rate applicable to the immediately preceding Interest Period may be obtained by any Class A Certificateholder by telephoning the Trustee at its Corporate Trust Office at (000) 000-0000. (d) On the final Federal Funds Determination Date for any Interest Period prior to 10:00 a.m., the Trustee shall send to the Servicer, by facsimile, notification of (i) the sum of each day's Federal Funds Rate during the applicable Interest Determination DatePeriod, divided by the number of days in such Interest Period and (ii) the Class A Monthly Interest for the related Interest Period. (e) All percentage resulting from any calculation of the Class A Certificate Rate will be rounded to the nearest one-hundred-thousandth of a percentage point, with five one millionths of a percentage point rounded upwards (e.g., 9.876545% (or.09876545) would be rounded to 9.87655% (or .987655)), and all dollars used in or resulting from such calculation will be rounded to the nearest cent (with one-half cent being rounded upward).

Determination of Federal Funds Rate. If the Interest Base Rate Basis specified on the face hereof or in the pricing supplement attached hereto or delivered herewith is the Federal Funds Rate, this Note will bear interest for each Interest Reset Period at the interest rate payable calculated with respect reference to this Note shall equal the Federal Funds Rate determined as specified on the face hereof, plus and Spread or minus the Spread, if any, or multiplied by the Spread Multiplier, if any, specified on the face hereof or in the pricing supplement attached hereto or delivered herewith. The "Federal Funds Rate Rate" for each interest reset date Interest Reset Period shall be determined as of the Business Day effective rate on the second business day prior to the Interest Reset Date for such Interest Reset Period (a “"Federal Funds Rate Interest Determination Date”") and shall be the rate with respect to such date for U.S. dollar Federal Funds as published in H.15(519) opposite the heading “Federal funds (effective)” and that appears on Reuters (or any successor service) on Reuters Page FEDFUNDS1 (or any other page as may replace such page on such service) under the heading “EFFECT” or, "Federal Funds (Effective)." The following procedures will be followed if the Federal Funds Rate cannot be determined as described above. In the event that such rate does not appear on Reuters Page FEDFUNDS1 or is not so published prior to 3:00 P.M., New York City time, on the Calculation Date pertaining to the Federal Funds Rate Determination Date, the "Federal Funds Rate" for such Interest Reset Period shall be the rate on the Federal Funds Rate Determination Date as published in the H.15 Daily Update under the heading "Federal Funds/Effective Rate." If by 3:00 P.M., New York City time, on the related such Calculation Date, the rate with respect to such Federal Funds Rate Interest Determination Date for U.S. dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, opposite the caption “Federal funds (effective)”. If such rate does not appear on Reuters Page FEDFUNDS1 or is not yet published in either H.15(519), ) or in the H.15 Daily Update or another recognized electronic source Update, then the "Federal Funds Rate" for such Interest Reset Period shall be the rate on the Federal Funds Rate Determination Date made publicly available by the Federal Reserve Bank of New York which is equivalent to the rate which appears in H.15(519) under the heading "Federal Funds (Effective)," provided, however, that if such rate is not made publicly available by the Federal Reserve Bank of New York by 3:00 P.M., New York City time, on the related such Calculation Date, then the "Federal Funds Rate with respect to Rate" for such Federal Funds Rate Interest Determination Date shall be calculated by the Calculation Agent and shall Reset Period will be the arithmetic mean of the rates for the last transaction in overnight U.S. dollar Federal Funds arranged by three leading brokers of U.S. dollar Federal Funds transactions in The City of New York (which may include the Agents or their affiliates) selected by the Calculation Agent, after consultation with Québec, prior to 9:00 A.M., New York City time, on the Business Day following such Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting same as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date shall be the Federal Funds Rate in effect on for the immediately preceding Interest Reset Period (or, if there is no such Interest Reset Period, the Federal Funds Rate will be the Initial Interest Rate). If this Note resets daily, the interest rate on this Note for the period from and including a Monday to but excluding the succeeding Monday will be reset by the Calculation Agent on such second Monday (or, if not a Business Day, on the next succeeding Business Day) to a rate equal to the average of the Federal Funds Rates in effect with respect to each such day in such week. Determination Date.of LIBOR